{"url_path":"/sec/cik-0001837532/8-k/2026-05-19/item-7-01","section_key":"item-7-01","section_title":"Item 7.01 Regulation FD Disclosures","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-05-19","source_url":"https://www.sec.gov/Archives/edgar/data/1837532/0001193125-26-230744-index.html","accession_number":"0001193125-26-230744","cik":"0001837532","ticker":null,"issuer_name":"Apollo Debt Solutions BDC","edgar_url":"https://www.sec.gov/Archives/edgar/data/1837532/0001193125-26-230744-index.html","primary_entity_key":"0001837532","primary_entity_name":"Apollo Debt Solutions BDC"},"word_count":1020,"has_tables":true,"body_markdown":"Item 7.01.\n\nRegulation FD Disclosures\n\nMay 2026 Distributions\n\nOn May 19, 2026, the Fund declared distributions for each class of its common shares of beneficial interest (the “Shares”) in the amount per share set forth below:\n\n \n\n \n  \nGross Distribution\n \n  \nShareholder\nServicing and/or\nDistribution Fee\n \n  \nNet Distribution\n \n\nClass I Common Shares\n\n  \n$\n0.1800\n \n  \n$\n0.0000\n \n  \n$\n0.1800\n \n\nClass S Common Shares\n\n  \n$\n0.1800\n \n  \n$\n0.0173\n \n  \n$\n0.1627\n \n\nClass D Common Shares\n\n  \n$\n0.1800\n \n  \n$\n0.0051\n \n  \n$\n0.1749\n \n\nThe distributions for each class of Shares are payable to shareholders of record as of the open of business on May 31, 2026 and will be paid on or around June 29, 2026. These distributions will be paid in cash or reinvested in shares of the Fund for shareholders participating in the Fund’s distribution reinvestment plan.\n\nPortfolio and Business Commentary\n\n(All figures as of April 30, 2026, unless otherwise noted)\n\nFor the month ended April 30, 2026, the Fund’s net asset value (“NAV”) per share was $23.92, compared to $23.90 as of March 31, 2026. The Fund’s 1-month, 3-month, year-to-date, 1-year, 3-year and annualized inception-to-date returns through April 30, 2026 for Class I Common Shares were 0.84%, 0.50%, 0.96%, 6.73%, 9.81% and 8.15%, respectively (inception date was January 7, 2022).1 As of May 19, 2026, the Fund’s annualized distribution rate for Class I Common Shares, including the distribution declared on May 19, 2026, was 9.03%.2\n\nAs of April 30, 2026, our portfolio was approximately $25.7 billion based on fair market value across 404 portfolio companies and 57 industries. Our portfolio consisted of approximately 100% first lien debt investments and approximately 96% floating rate debt investments based on fair market value. The weighted average earnings before interest, taxes, depreciation and amortization (“EBITDA”) of our directly originated debt investments was $304 million,3 and our portfolio’s overall weighted-average net loan-to-value, weighted average yield at amortized cost, weighted-average net leverage and interest coverage were 41%, 8.51%,4 4.9x, and 2.5x, respectively.5\n\nAs of April 30, 2026, the Fund’s net leverage ratio was 0.75x,6 and we had approximately $4.2 billion of excess availability under our secured funding facilities.7\n\n \n\nSelect Recent Transaction Highlights\n\nSabre\n\nIn April 2026, Apollo-managed direct lending funds supported TPG Inc.’s $3.5 billion acquisition of Sabre Industries (“Sabre”) with a non-fungible incremental term loan. Apollo provided a fully bought solution while preserving portability of the existing syndicated deal. The investment secured additional exposure in a high-conviction credit for Apollo funds. Sabre is a manufacturer of utility poles and transmission towers. ADS participated in the transaction alongside other Apollo-managed investment funds.\n\nQualus\n\nIn April 2026, Apollo served as lead lender on a $1.0 billion credit facility for Qualus Corporation (“Qualus”) as part of a leveraged buy-out financing. Qualus is a provider of advisory, engineering and field services to the power industry with 1,900+ employees across the U.S. and Canada. ADS participated in the transaction alongside other Apollo-managed investment funds.\n\n \n\n \n\n3\n\n1.\n\nPast performance is not indicative of future results. Total returns for periods greater than one year are annualized. For Class S common shares of beneficial interest (“Class S Common Shares”), excluding maximum upfront placement fees, ADS generated returns of 0.77%, 0.29%, 0.68%, 5.83%, 8.89%, and 7.23% for the 1-month, 3-month, year-to-date, 1-year, 3-year and annualized inception-to-date periods through April 30, 2026 (inception date is February 1, 2022), respectively. For Class S Common Shares, including maximum upfront placement fees, ADS generated returns of -2.73%, -3.22%, -2.83%, 2.16%, 7.61%, and 6.33% for the 1-month, 3-month, year-to-date, 1-year, 3-year, and annualized inception-to-date periods through April 30, 2026 (inception date is February 1, 2022), respectively. For Class D common shares of beneficial interest (“Class D Common Shares”), excluding maximum upfront placement fees, ADS generated returns of 0.82%, 0.44%, 0.88%, 6.47%, 9.54%, and 10.55% for the 1-month, 3-month, year-to-date, 1-year, 3-year and annualized inception-to-date periods through April 30, 2026 (inception date is July 1, 2022), respectively. For Class D Common Shares, including maximum upfront placement fees, ADS generated returns of -0.68%, -1.07%, -0.63%, 4.89%, 8.99%, and 10.13% for the 1-month, 3-month, year-to-date, 1-year, 3-year, and annualized inception-to-date periods through April 30, 2026 (inception date is July 1, 2022), respectively. Class S Common Shares and Class D Common Shares listed as including the upfront maximum placement fees reflect the returns after the maximum upfront placement fees. No upfront sales load will be paid to the Fund with respect to Class S Common Shares, Class D Common Shares or Class I Common Shares, however, if a shareholder buys Class S Common Shares or Class D Common Shares through certain financial intermediaries, they may directly charge transaction or other fees to shareholders, including upfront placement fees or brokerage commissions, in such amount as they may determine, provided that selling agents limit such charges to a 1.5% cap on NAV for Class D Common Shares and 3.5% cap on NAV for Class S Common Shares. Class I Common Shares do not have upfront placement fees.\n\n2.\n\nThe annualized distribution rate is as of May 19, 2026, and is calculated by multiplying the sum of the month’s stated base distribution per share by twelve and dividing the result by the prior month’s NAV per share. The annualized distribution rate, including the distribution declared on May 19, 2026, was 8.16% for Class S Common Shares and 8.78% for Class D Common Shares.\n\n3.\n\nBased on latest information tracked on our portfolio companies and excludes certain portfolio companies for which these metrics are not meaningful (for instance, portfolio companies with negative EBITDA).\n\n4.\n\nExcludes investments on non-accrual status.\n\n5.\n\nBased on latest information tracked on our portfolio companies and excludes certain portfolio companies for which these metrics are not meaningful (for instance, portfolio companies with negative EBITDA). Net loan-to-value is net debt through the respective loan tranche in which the Fund has invested divided by the estimated enterprise value of the portfolio company.\n\n6.\n\nThe Fund’s net leverage ratio is defined as debt outstanding plus payable for investments purchased, less receivable for investments sold, less cash and cash equivalents, less foreign currencies, divided by net assets.\n\n7.\n\nIncludes borrowing base availability under secured financing facilities, cash and net receivables from investments."}